April 20, 2022 02:42 GMT
The yen regains poise after its dramatic losing streak, with broader USD weakness helping USD/JPY move away from two-decade highs. The pair has pulled back below the Y129.00 figure and last trades at Y128.75, 15 pips lower on the day.
- The BoJ conducted unlimited fixed-rate bond purchases today in response to 10-Year JGB yield testing the upper end of its permitted trading band.
- Meanwhile, Dep Chief Cabinet Sec Isozaki reiterated that officials are watching yen depreciation with vigilance and emphasised the importance of stability in FX markets.
- The technical picture outlined in our previous JPY bullet remains in play.